Extension to contract with Visa Worldwide Pte. Limited

Sep 15, 2014

RNS Number : 5712R
Cloudbuy PLC
15 September 2014

cloudBuy plc
("cloudBuy" or the "Company")

Extension to contract with Visa Worldwide Pte. Limited

cloudBuy plc (AIM: CBUY), the cloud eCommerce marketplace, is pleased to announce an extension to its contract with Visa Asia Pacific. The term of this new agreement is for 5 years and extends the scope of services that can be procured to cover the electronic marketplace, pre sales support, project management and SpendInsight services in the Asia Pacific region.

Ronald Duncan, Chairman of cloudBuy commented: "Following our Australian contract win and progress in Asia Pacific, we are delighted to have signed an extension to our contract with Visa which widens the scope of work that we can undertake and extends the agreement for a further 5 years. We believe this has the potential to transform our business over the next 5 years."

For further information, please contact:

cloudBuy plc
Ronald Duncan, Chairman
Tel: 0118 963 7000

Westhouse Securities Limited
Tom Griffiths/Richard Johnson
Tel: 020 7601 6100

Newgate Threadneedle
Caroline Forde/Alex White/Robyn McConnachie
Tel 020 7653 9850

About cloudBuy PLC

cloudBuy, formerly @UK, is a world-leading transactional cloud platform.

cloudBuy has used the platform to build world-leading business to business (B2B) ecommerce and e-procurement applications, which address the full range of buying and selling activities in an easy-to-use web and mobile digital experience.  The platform is also used to build complementary applications such as content management, secure email and big data analysis.

To date, the applications have processed over $500 billion of spend, and are being used by leading organisations around the world to deliver savings, increase profits and improve services.

The applications are unique in delivering correct pricing in the complex world of B2B procurement, whilst being simple enough for anyone to use - to the extent that people with disabilities can easily use a Care marketplace version to buy their own social and health care.
For more information, visit www.cloudbuy.com

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